BCE Inc. logo BCE - BCE Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 7
HOLD 13
SELL 1
STRONG
SELL
0
| PRICE TARGET: $25.00 DETAILS
HIGH: $25.00
LOW: $25.00
MEDIAN: $25.00
CONSENSUS: $25.00
UPSIDE: 5.44%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 40% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Undervalued Strong
Trading 67.9% below fair value
Current Price $23.71
Bear Case $59.11 149.3% upside ($59.11 - $23.71) / $23.71 = 149.3% $4.93 × 12x P/E
Fair Value $73.89 211.6% upside ($73.89 - $23.71) / $23.71 = 211.6% $4.93 × 15x P/E
Bull Case $88.67 274.0% upside ($88.67 - $23.71) / $23.71 = 274.0% $4.93 × 18x P/E

Adjust Assumptions

15.0x
4.93$

Key Value Driver

Normalized P/E multiple (15x base case)

Implied Market Multiple 4.8x

Plain-Language Summary

Applying a 15x P/E to adjusted EPS of $4.93, the base-case value is $73.89 per share.

Analyst Consensus (External Reference)

Never blended into the bear/base/bull estimates above -- shown only as an outside comparison.

Average Target (21 analysts) $25.00
Analyst Range $25.00 – $25.00
Divergence from AlphaVal 196%

Warnings

Wall Street's average price target is $25.00 (from 21 analysts). Our estimate is 196% above the consensus -- consider that gap carefully.
Financial statements were converted from CAD into USD using USDCAD at 0.7265 USD per CAD.

Key Risks

  • Growth DCF inappropriate — terminal value assumptions dominate
  • EV/EBITDA misleading for regulated businesses where capex is mandated
  • Regulatory risk is a fat tail not visible in normal multiples